AvalonBay Announces Standard Requiring Third-Party Environmental Certifications in New High-Rise and Mid-Rise Construction

ARLINGTON, Va.--(BUSINESS WIRE)-- AvalonBay Communities, Inc. (NYSE: AVB) – a trusted name in multifamily housing – announced today a new company standard that demonstrates its commitment to building sustainable and environmentally responsible homes and communities for the future.

AvalonBay has implemented a new “Building Certified” policy that requires all new high-rise and mid-rise construction projects to achieve third-party certification of environmental and energy efficiency from external rating programs such as LEED or Energy Star. The new policy also strengthens requirements for garden apartment communities.

“This new policy will drive us to continue to reduce consumption and further demonstrates our commitment to creating better, more sustainable communities,” said Matthew Birenbaum, Chief Investment Officer. “This will also help AvalonBay attract the best talent to join our design, development and construction teams to work on projects that advance the best in green building. We are constantly pushing ourselves to be better every day – more environmentally conscious, a better employer, and a stronger community partner.”

AvalonBay currently owns 16 LEED and 10 Energy Star certified communities, and an additional 23 communities are pursuing certification. The company also received the National Association of Real Estate Investment Trusts’ 2015 Residential Leader in the Light award and was identified as a sector leader by the Global Real Estate Sustainability Benchmark [GRESB]. Both of these organizations recognize industry leaders that demonstrate a long-term commitment to sustainability and environmental responsibility.

About AvalonBay Communities, Inc.

As of September 30, 2015, the Company owned or held a direct or indirect ownership interest in 282 apartment communities containing 82,851 apartment homes in eleven states and the District of Columbia, of which 27 communities were under construction and eight communities were under reconstruction. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in the leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. More information may be found on the Company’s website at http://www.avalonbay.com.

Copyright © 2016 AvalonBay Communities, Inc. All Rights Reserved

AvalonBay Communities, Inc.
Kurt Conway
Senior Vice President
Brand Strategy & Marketing

Source: AvalonBay Communities, Inc.